The gap between Black and white renter families that could afford a mortgage narrowed significantly during the COVID-19 pandemic, according to a Zillow report released Friday. About 7.8% of Black renter families earned enough income in 2022 to afford a mortgage with a 3% down payment, compared to 12.5% of white families that year — […]
Rocket Companies, the parent of Rocket Mortgage, lost money in 2023, but executives have expressed confidence about a big turnaround by touting investment in artificial intelligence (AI) to accelerate the company’s profitability. Despite reporting a GAAP net loss of $390 million in 2023, investors seem to be sold on the company’s path towards Rocket’s “AI-fueled […]
Roughly 24 hours after filing an objection to the U.S. government’s motion to stop the gathering of evidence in a case against Ginnie Mae, Texas Capital Bank (TCB) responded to the government’s attempt to dismiss the entirety of the bank’s complaint. The case stems from Ginnie Mae’s extinguishment of Reverse Mortgage Funding (RMF) from its […]
The nation’s top loan officer, Guaranteed Rate’s Shant Banosian, joined the board of directors at Healing Realty Trust, a healthcare-focused real estate investment company. Established
Anywhere Real Estate felt the brunt of slow home sales during the fourth quarter of 2023 as the company reported a loss of $107 million
The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a
For iBuyer Opendoor, 2023 was all about moderation. “We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told
United Wholesale Mortgage (UWM) has accused California-based brokerage and correspondent lender Mortgage Solutions FCS, dba Client Direct Mortgage, of breaching its early payoff (EPO) provision
Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax
Opportunity in the current mortgage market may be challenging to find — and that could arguably be truer for those who offer reverse mortgage products for clients. Still, reverse mortgage professionals are always keeping their eyes peeled, and a group of them shared what they’re looking out for in 2024
The nation’s top loan officer, Guaranteed Rate’s Shant Banosian, joined the board of directors at Healing Realty Trust, a healthcare-focused real estate investment company. Established in 2022, the real estate venture carved out a niche focusing on healthcare properties in the $1 million to $15 million price range – including
Anywhere Real Estate felt the brunt of slow home sales during the fourth quarter of 2023 as the company reported a loss of $107 million during the three-month period. It generated $1.3 billion in revenue in the fourth quarter, a decrease of 6% year over year. A nearly 20% annualized decline
The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a property purchase. But the good news is, more buyers have become aware of down payment assistance (DPA) options and are tapping into available resources for
For iBuyer Opendoor, 2023 was all about moderation. “We are excited about how we are set up for 2024 and beyond,” CEO Carrie Wheeler told investors and analysts listening to the firm’s Q4 2023 earnings call on Thursday evening. “We’ve done the hard work in 2023 to be leaner, to
United Wholesale Mortgage (UWM) has accused California-based brokerage and correspondent lender Mortgage Solutions FCS, dba Client Direct Mortgage, of breaching its early payoff (EPO) provision and its owner, Ramon Walker, of trademark infringement. UWM filed a lawsuit in a U.S. district court in Michigan on Wednesday. The legal battle follows